by Harvey Organ, HarveyOrgan.Blogspot.ca:
Good evening Ladies and Gentlemen:
Gold closed up by $3.90 to $1386.90 (comex closing time). Silver rose by 18 cents to $21.92 (comex closing time)
In the access market at 5:00 pm, gold and silver finished trading at the following prices :
At the Comex, the open interest in silver rose by 2274 contracts to 150,828 contracts with silver’s fall in price on Friday by 94 cents. The silver OI is holding firm at elevated levels. No doubt the object of the major bullion banks’ interest in raiding, was silver as the OI has been remaining stubbornly high for many months. The open interest on the entire gold comex contracts rose by 5096 contracts to 381,144 which is still extremely low. There is no question that all of the weak speculators in gold have now departed. In my weekend commentary I stated the following: “I do not think that the raid on Friday will result in any further OI losses in gold.” Not only did the OI not contract but it rose considerably.The number of ounces which is standing for gold in this June delivery month is 942,700 or 29.322 tonnes.The number of silver ounces standing in this non active month of June rose by 40,000 oz to 660,000 oz. No doubt this level will climb as the June month proceeds.
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